Zamfara State in Nigeria Issues a Closure Decree for Media Covering Political Gathering.
In violation of a state-imposed ban on political activity, Zamfara state, Nigeria ordered five media outlets to shut down; after…
Category: Local
Oil Theft Becomes a Threat to Nigerian Naira.
90% of Nigeria’s foreign exchange revenues in the first quarter of 2022 came from oil and gas; which is a…
Sanwo-Olu Authorizes the Lagos Wealth Fund Bill.
The Lagos State Wealth Fund Bill and the Lagos State Civil Bill, which will be submitted to the Lagos State…
EFCC Arraigns ex-Lagos Commissioner for Money Laundering.
A former Lagos State attorney general and commissioner for justice, is facing a money laundering accusation from the Economic and Financial Crimes Commission in front of the Lagos Federal High Court. In the fourcount complaint, the EFCC accused Shasore of pressuring Olufolakemi Adelore to take a $100,000 cash payment; without first going through a financial institution. On November 18, 2014, Shasore is accused to have committed the crimes in Lagos within the jurisdiction of this court; made a cash payment to Adelore of the amount of $100,000 through Auwalu Habu and Wole Aboderin; which sum exceeded the amount permitted by law and you so committed an offense,” the complaint reads. MoneyCentral.
The 2023 Budget is Read a Second Time.
For the construction of large-scale housing projects around the state, the Lagos State Government has sought a stronger relationship with…
Doctors Recruited From Nigeria To Work In UK Hospitals Lament Over Exploitation, ‘Slave Labour’.
A British healthcare company is hiring doctors from Nigeria with the expectation that they will operate in private hospitals; under…
Top 10 Employers in 2022 Seeking a Majority of Remote Positions.
This year, SAP has listed 282,62 remote jobs. SAP’s cloud ERP solutions, which is by technologies like the Internet of…
OPEC Reduces Oil Production In 2022 and 2023 as the Economy Sputters.
As a result of slowing economies, the revival of China’s COVID-19 control measures, and high inflation, OPEC reduced its projection…
In September 2022, PoS Transactions Reached a Record-breaking Monthly High of N735.6billion.
Nigerian Point of Sales (PoS) terminal transaction volume increased to N735.6 billion in September 2022. As more Nigerians use cashless…
Nigeria Attracts $10.1billion Diaspora Remittance in Half of 2022.
Between January and June 2022, Nigerians received $10.11 billion in diaspora remittances, a 9.6% increase over the $9. 23 billion…
Nigerian Non-oil Exports Reach $2.6 billion in Six months
According to Dr. Ezra Yakusak, Chief Executive Officer of the Nigerian Export Promotion Council, Nigeria’s non-oil export sector generated $2.…
CBN Loans to Nigerian FG Hits N22trillion.
In August 2022, the Federal Government obtained a N1. 46 trillion loan through Ways and Means Advances from the Central…
76 People have Died as A Result of The Boat Capsize Catastrophe in Nigeria.
The president said that there have now been 76 fatalities; as a result of a boat accident in the state…
42 Tapping Points Associated With Oil Theft Found In Delta and Bayelsa.
Security personnel and Former leader Government Ekpemupolo, alias Tompolo, have found a total of 58 petroleum bunker tapping locations on…
In September, Canada Added Jobs, and Unemployment Rate Decreased.
According to official figures, the Canadian economy created jobs in September but did nothing to make up for the losses…
Kogi Flooding Leads to Fuel Shortage in Abuja, Says NNPC.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) blames the current fuel shortage in Abuja and other neighboring states…
Russia will Benefit the Most from OPEC+’s Reduction in Oil Production.
Deep oil production cuts unexpectedly agreed to by OPEC+ this week are expected to benefit Russia the most while restricting…
Flood Destroy Homes, Crops, and Optimism in Nigeria’s Food Basket State.
At least 500,000 Nigerians have been impacted by flooding this year in 29 of the country’s 36 states, including Okonkwo.…
Senate Rejects N1.7trillion Subsidy Recommendation Made by Committee For Budget.
The executive’s proposal to lower the N3.6 trillion budgeted for subsidies in the 2023 budget to N1. 7 trillion was…
Nigeria Now Has 210million Active Mobile Customers.
In August 2022, there were 210 million active mobile customers, up from 208.6million in July, with a teledensity of 109.99%.…
World Bank: Nigeria’s economy would develop less rapidly in 2023.
According to projections, the Nigerian economy would contract in 2023, falling to 3.2% (from 3. 3%), and remain at this…
Kenya Court Rejects Petition Regarding VAT on Fuel products.
Sen. Okiya Omtatah of Busia filed a case 2018 opposing the introduction of a tax on petroleum products; but the…
How To Earn From The 15.5% Interest Rate Increase By CBN.
The benchmark interest rate (MPR), according to Nigeria’s Central Bank has risen to a two-decade high of 15.5%. The rate…
Ethiopian Airlines Becomes A key Investor In Nigeria Air.
The Nigerian government announced that Ethiopia Airlines is the preferred bidder for Nigeria Air; as it gets ready for the…
Nigeria’s Food Problem Is Getting Worse Due To Import Dependence.
According to the International Monetary Fund, an excessive reliance on imported foods has made the food crisis that is currently…
The CBN Lends N9.3trillion To Businesses While Reducing Interference.
The Central Bank of Nigeria has lent N9.3tn to businesses, recovering N3.7tn from it.The apex bank said N5tn was not…
Core Capital goods shipments and orders increased in the United States in August.
According to the data, company spending on equipment likely increased in the third quarter, allaying concerns that the economy was…
Nigerian Bank Stocks With The Lowest Price-Earnings.
According to data gathered by Bloomberg, United Bank for Africa Plc, Access Bank Plc, FBN Holdings Plc; and Unity Bank…
Emefiele Asserts That There Is No Law Requiring CBN To Give Dollars To Foreign Airlines.
Foreign airlines’ funds stranded in Nigeria, according to the International Air Transportation Association (IATA), climbed from $450 million in May…
Experts Criticize CBN for Raising Interest Rates To Combat Inflation.
Inflation is already out of control, reaching a 17-year high in August of 20. 52 percent, stifling the parallel market…